By mikelove, published at 10 May 2007 - 8:12pm, last updated 11 years 27 weeks ago.

via SmartMobs

an interesting story, in case people haven't heard of it, about collective buying in China. Apparently 380,000 people registered at this site last year, organizing buying teams that demand group discounts!

How do you get a better price for a consumer good? Well, in China, you show up with a team of a dozen other shoppers and start shouting at the bewildered salesperson, "35% off!" In Chinese, the team haggling process is more formally known as tuangou ("team purchase"), and there's even a Web site (51tuangou.com) that gathers together consumer buying power for a specific purchase in Shanghai. From the looks of the Chinese-language-only Web site, consumers can band together to buy anything from Queen-sized beds to kitchen cabinets to wedding dresses to cars.